US Court of Appeals Delays Decision on Grayscale’s Bitcoin Trust Conversion into ETF
– The US Court of Appeals has delayed its decision on whether Grayscale can convert its Bitcoin Trust into an ETF.
– This is the third time the decision has been postponed, leaving stakeholders without clarity.
– Grayscale filed suit against the SEC after its application to change the Grayscale Bitcoin Trust into an ETF was rejected.
– Grayscale argues that the SEC’s approval of futures-based bitcoin ETFs contradicts its denial of their application.
– The SEC maintains that a spot bitcoin ETF cannot sufficiently protect investors from fraud and manipulation.
Hot Take: The repeated delays in the decision on Grayscale’s Bitcoin Trust conversion into an ETF highlight the ongoing uncertainty surrounding the regulatory status of bitcoin ETFs. Investors and industry professionals are eagerly waiting for clarity from the eventual ruling, as it will provide insights into the SEC’s stance on expanding access to Bitcoin investments.
By
By
By
By
By
By